Wknd. KTBuzzon Inspired Living Indulge City Times KT Mobile KT ePaper KT Competitions Subscribe KT
Khaleej Times
Khaleej Times Google Plus Page Khaleej Times Facebook Page Khaleej Times Twitter Page Khaleej Times on Instagram
  Inspired Living
  Parent Talk
  Used Cars
Home > Business
Print this story
Saudi Arabia to print 
$4b sukuk

(Reuters) / 17 January 2012

RIYADH - Saudi Arabia’s General Authority for Civil Aviation (GACA) is set to print a 15 billion riyals ($4 billion) ten-year sukuk, its debut Islamic bond offering, a source familiar with the matter told Reuters on Monday.

The transaction will carry a profit rate of 2.5 per cent, the source added, who spoke on condition of anonymity. Investor meetings ahead of the sukuk sale began on January 10, a statement carried by the Saudi Press Agency said at the time.

The sukuk is fully guaranteed by the Saudi Ministry of Finance and will be the first in a series of Islamic bonds from the authority to help fund the 27.1 billion riyals development of King Abdulaziz International Airport in Jeddah.

Print this story
comments powered by Disqus